Daily Update
Regardless of Negative reports from USD Crude Oil Stock’s change & Industrial Production & Capacity utilization, the USD gradually strengthened since it has spiked to the highest since 14 years against its basket of rival currencies which is USD Index. Along with further support from post elections effect on US Treasury yields further boosted USD against its rivals. As per statements released by Four Fed Reserve chair members, most likely there is a 94% chance of Fed Rate Hike in Dec. Euro dropped to a fresh 1 year low after heavy positive pressure on USD on Wednesday. Aside from the Italian referendum, we also have the first round of primary elections in France this weekend and later in December, the Austrian Presidential election. Next year, both Denmark and France have general elections. Investors will be watching the polls closely for any signs of growing nationalism. The day will be a busy in terms of major data coming from UK and USA. By Early Dawn, RBNZ Financial stability report from New Zealand will be released. By midday, Retail sales report from UK will be released. This measures the total receipts of retail stores which is a major indicator of consumer spending in UK. In the evening ECB Monetary Policy Meeting Accounts report will be released, which contain an overview of financial market,economic and monetary developments. By mid evening USA will release reports on Building Permits & Housing starts which is an indicator on movements of the US housing market. The reports such as Consumer price index for several categories is a major indicator to measure inflation and changes in purchasing trends. Finally investors will be looking forward to what Janet Yellen’s has to say on December signal for a rate hike, Trump effect on USD, economic situation and new policy to enhance the US economy.Yesterday’s Markets
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